Earlier this week, I had the treat of being a part of an online webinar demonstration of the head of the National Social Security Advisor organization, Marc Kiner, walking through, live, the online application for Social Security benefits. … [Read more...]

I have always liked the metaphor of building a house for the process of planning for retirement.   We would never think of constructing something as complicated and expensive as a home without first drafting a blueprint. The blueprint envisions every detail of the home in advance of construction. The blueprint allows for modifications instead of expensive change orders. It also allows the expertise of an architect in working with the potential homeowner and builder.   It should … [Read more...]

I receive a lot of questions during the year from my clients and others about required minimum distributions. In this article I want to explain what they are and how they work.   The idea behind a required minimum distribution is to take a dollar that has never been taxed in the past and subject it to taxation. Dollars that have never been taxed in the past are those that have been contributed to 401(k) and IRA accounts. In addition, the growth of these accounts have never been taxed … [Read more...]

I often get questions about the tax consequences of Social Security benefits.   Whether or not Social Security benefits will be taxed depends on a concept called Provisional Income, which was created by the IRS. Provisional Income combines an individual's adjusted gross income, half of their Social Security benefits, and any tax-exempt interest. Depending on the total amount of Provisional Income for the year, Social Security benefits may be subject to taxation at the federal … [Read more...]

I'm excited that I recently completed the recording of a condensed version of our Maximizing Social Security course into 12 easily digestible video snippets. If you need either education or a refresher on aspects of the Social Security system, such as the different types of benefits, the taxation of Social Security, the Windfall Elimination Provision and Government Pension Offset, or maximization strategies, you can easily access them, or share them with a friend. … [Read more...]